Volcker Plans To Head Panel

AP

Published: July 24, 1987

WASHINGTON, July 23—
Paul A. Volcker, who is retiring as chairman of the Federal Reserve Board, said today that he would head a new privately financed commission on public service.

The two-year commission will seek to recommend ways to make Government service more attractive, Mr. Volcker told the Senate Banking Committee.

Mr. Volcker, 59 years old, announced on June 2 that he would retire after serving eight years as head of the nation's central bank. He is expected to stay on until the Senate confirms Alan Greenspan, the President's choice to succeed him.

Mr. Volcker said he would serve without pay as chairman of a privately financed National Commission on the Public Service. The commission, in a statement, said other members of the panel would include Elliot L. Richardson, former Attorney General; Elmer B. Staats, former Comptroller General; Robert Schaetzel, former Ambassador to the European Community; John Brademas, former House majority whip and now president of New York University, and former Senators Edmund S. Muskie, and Charles McC. Mathias.